General Motors (GM) is investing in Niron Magnetics, a company specializing in the development of rare earth-free Clean Earth Magnet technology, which is poised to play a significant role in reducing the use of rare earth minerals in electric vehicle (EV) motors. Anirvan Coomer, the president of GM Ventures, emphasizes that this technology is crucial for scaling GM's North American-based EV supply chain and aligns with the company's commitment to an all-electric future.
GM's strategic partnership with Niron is part of its broader effort to localize and environmentally optimize the EV supply chain. Niron's technology, based on iron nitride—an abundant and affordable material—offers an innovative solution to the costly and overseas-processed rare earth minerals currently used in EV motor rotors. This partnership and investment in Niron, now part of GM Ventures' portfolio, will further support the manufacturing and commercialization of sustainable magnets for EVs.
Niron's Clean Earth Magnets are seen as an advancement from the rare earth permanent magnets GM invented nearly 40 years ago, and Jonathan Rowntree, CEO of Niron, expresses confidence that their technology will assist GM's mission to mainstream EV adoption. GM's Ultium Platform for EVs stands to benefit from this partnership, particularly in reducing costs and the environmental footprint of magnet production while bolstering the domestic EV industry.